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<h1>Penalty for Late Information Return Filing Under Section 123 of GST Act: 100/day, Max 5,000</h1> Under Section 123 of the Telangana Goods and Services Tax Act, 2017, a person required to submit an information return under Section 150 and who fails to do so within the specified period may incur a penalty. The penalty is one hundred rupees for each day the failure continues, but it is capped at a maximum of five thousand rupees. The proper officer has the authority to impose this penalty.